Exabyte Announces Third Quarter Results

Exabyte Corporation , a network backup systems vendor, today reported revenue for the third quarter of 2001 of $34,268,000 compared to $60,100,000 for the third quarter of 2000 and $39,412,000 for the second quarter of 2001. The net loss for the third quarter of 2001 was $3,847,000 or $0.17 per share compared to a net loss of $11,305,000 or $0.50 for the third quarter of 2000 and a net loss of $5,259,000 or $0.23 per share for the second quarter of 2001.

“Our revenue in the third quarter was adversely impacted by the continuing slowdown in the global economy and by delayed buying decisions following the tragic events of September 11th. We nonetheless managed to again improve our bottom line through further gains in our production yields, reductions in our cost structure and tight control of assets. I am very pleased with the progress we have made in each of the past two quarters in an environment that is as difficult as I’ve ever experienced in more than 20 years in the industry,” stated Bill Marriner, Exabyte’s Chairman, President and Chief Executive Officer.